The Mortgage Bankers Association, in a letter Sunday to the Securities and Exchange Commission and the Financial Industry Regulatory Authority, raised “urgent concern” about dramatic price volatility in the market for agency mortgage-backed securities over the past week that leading to broker-dealer margin calls on mortgage lenders’ hedge positions that are unsustainable for many such lenders.
Tag: Coronavirus
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Ginnie Mae, FHA Update Servicer Policies in Coronavirus Wake
Ginnie Mae and FHA on Friday issued updates addressing mortgage servicer liquidity issues that could result from the coronavirus pandemic.
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MBA Advocacy Update
MBA remains active on efforts regarding the coronavirus (COVID-19) pandemic. In this week’s communication, you will find several updates pertaining to industry efforts to provide relief to both our members and their customers.
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House Approves $2 Trillion Stimulus Bill; Trump Signs into Law
The House on Friday approved a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
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MBA Chart of the Week: Unemployment Insurance–Initial Claims
Last week provided our first indication of just how severe the shutdown of the U.S. economy could be, as Americans combat the ongoing spread of the coronavirus.
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MBA, Trade Groups Ask States to Support Financial Services, Real Estate, Housing Industries in COVID-19 Response
The Mortgage Bankers Association and other industry groups sent a letter last week to state and municipal government associations, asking for support of the financial services, real estate and housing industries as they navigate solutions to the coronavirus pandemic.
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CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
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House Vote Scheduled Today on $2 Trillion Stimulus Bill; What it Means for MBA Members
The House is expected to vote today on a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
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CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
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MBA, Trade Groups Ask DHS to Declare Housing ‘Essential Infrastructure Business’
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”